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Hong Kong shares end at 2-week high on property market optimism
May 13, 2014 / 8:10 AM / 4 years ago

Hong Kong shares end at 2-week high on property market optimism

BEIJING, May 13 (Reuters) - Hong Kong shares edged up to a two-week high on Tuesday, led by gains in property stocks amid speculation the government may relax the city’s stamp duty rules.

The Hang Seng Index closed up 0.4 percent at 22,352.38 points, its highest since April 29. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was up 0.3 percent.

Property stocks registered some of the strongest gains on the hope that the government may lengthen the time before homeowners have to pay double stamp duty if they fail to sell their second home.

China Overseas Land & Investment Ltd gained 3.8 percent, while Sino Land Co Ltd increased 3.4 percent.

Shares in Macau casino operator SJM Holdings Ltd fell 2.4 percent after the firm announced lacklustre first quarter earnings that missed expectations. (Reporting by Natalie Thomas; Editing by Jacqueline Wong)

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